Monday, November 11, 2024

October 3, 2024 7:59 PM

OPEC+ could cushion Iran oil shock but not broader disruption

OPEC has enough spare oil capacity to compensate for a full loss of Iranian supply if Israel knocks out that country's facilities but the producer group would struggle if Iran retaliates by hitting installations of its Gulf neighbours. Iran fired hu...

September 12, 2024 3:17 PM

IEA cuts 2024 oil demand growth forecast on China slowdown

The International Energy Agency (IEA) has cut its 2024 oil demand growth forecast by 70,000 barrels per day (bpd), or about 7.2%, to 900,000 bpd, it said in its monthly oil market report on Thursday, The Paris-based agency cited a slowdown in Chines...

September 6, 2024 11:46 AM

OPEC+ agrees to delay October oil output hike for two months

OPEC+ has agreed to delay a planned oil output increase for October and November, the producers' group said on Thursday after crude prices hit their lowest in nine months, adding that it could further pause or reverse the hikes if needed. Oil prices...

June 3, 2024 4:30 PM

OPEC+ extends oil output cuts into 2025

OPEC+ agreed on Sunday to extend most of its deep oil output cuts well into 2025 as the group seeks to shore up the market amid tepid demand growth, high interest rates and rising rival U.S. production. Brent crude oil prices have been trading near ...

May 27, 2024 2:02 PM

Asia shares nudge higher as US, EU inflation data loom

Asian shares firmed on Monday as investors braced for a busy run of inflation data that could set the scene for a European rate cut as soon as next week and a U.S. policy easing within just a few months. Holidays in Britain and the United States mad...

May 24, 2024 2:59 PM

OPEC+ to hold June 2 output policy meeting online

The OPEC+ group of oil producers, comprising the Organization of the Petroleum Exporting Countries (OPEC) and allies led by Russia, has pushed back its output policy meeting by a day to June 2 and will convene online. The meeting was to have been in...

November 14, 2023 10:10 AM

India and OPEC strengthen ties in sixth high-level energy dialogue

The sixth high-level meeting of the India-OPEC Energy Dialogue witnessed the convergence of key stakeholders addressing critical issues in the oil and energy markets. Chaired by Haitham Al Ghais, Secretary-General of OPEC, and Hardeep Singh Puri, Min...

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